Lean hog futures were down 57 cents to $1.72 at Wednesday’s close. Open interest showed 2,867 contracts rolling out of the June contracts, with the rest of the board OI up 2,229. USDA’s national base hog price was reported at $94.59 on Wednesday afternoon, down 86 cents from the day prior. The CME Lean Hog Index was back up 7 cents on May 4 at $91.10.
USDA’s pork carcass cutout value from the Wednesday PM report was down 87 cents at $95.10 per cwt. The ham and belly primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 488,000 head, with the weekly total at 1.455 million head. That is down 6,000 head from the previous week but 17,778 head above the same week last year.
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May 26 Hogs closed at $91.700, down $1.100,
Jun 26 Hogs closed at $99.700, down $1.725
Jul 26 Hogs closed at $102.250, down $1.275,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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